starting a business

United States
March 3, 2007 2:39pm CST
i want to start a carry out resurant, but i don't know where to get the funds, i do not want to take out a loan because my credit isn't all that great, so could someone help me and give me all the info and advice you can. Thanks
1 person likes this
4 responses
• Malaysia
8 Mar 07
hello. that is the great idea. but the problem is not funds right. did you noticed that the rich people or the success person they are start from 0?? yes.. from 0, they dont have anything. but finally they are success. you said you no funds right?? you can start small one first. sell something that you can handle or you know. there are a lot of benifits you can get if you start from 0. 1. you will learn hoe to sell small one before you sell the "big" one. 2. you will get the experiences from that and it is important for your future to handle big company. in the big company you need to think or handle all the thing. even you give it to the staff, there will still have the problems. 3. its is like how you grow. after born, did you straightly run, or talk with your mom? no right. you will learn step by step. that is the terminology. i hope you use it for you to think when you get or feel weak. actually more advantages if you start from 0. hopefully you will success on what you are doing later kay.. :) Gud Luck!!
• Jordan
6 Mar 07
If you do not want a loan, you might want considering having a partner.. you can have several arrangements, the partner invests and you run it (and this would be the basis of the shareholding split) I would advice that you work on a good proposal and business plan that will catch the eyes of such partners/or venture capitalists... If it is profitable, you will find people who would come in as venture capitals or as partnering with you. You have to be persuasive and know every detail of what you will do, how you will do it, and so on, you need to be confident to convince them. Another way is to borrow from friends or relatives I have currently came accross a company that is working with a very interesting concept... They are a real estate company, they make proposals, send them out to wealthy investors and propose to give them up to 30% of the capital as a yearly return, what is beyond that is kept by the company. They manage the projects, market them, sell them, etc and give the investors all the information they want. They do not guarantee the 30% but they are counting on thier experience and they are doing well and sold a lot from that... they now have projects worth over 600$ Point is if you are presentable, confident, and know what you are talking about then you will find people ready to invest given an agreed formulae of profit spliting. Personally, i beleive this way is much better than a bank... at least for someone to start a business. Then when the money starts coming you could establish another restaurant that is 100% owned by you (you will have two businesses then) Let me know if you need any help or want more clarifications http://www.go4sites/joralliance.com
@msqtech (15074)
• United States
3 Mar 07
If you dont have the money you have to borrow or work to save. I would suggest working in the business to learn it then save until you can afford to open a restaurant of your own.
@Flexxx (103)
• South Africa
6 Mar 07
It's always a good idea to start small & make use of what you already have. My cousin started a food stall selling sandwiches, hot coffee, pies & other small food stuff. She saved enough to put down a deposit for a national food franchise and was given a license to operate last year. When using this method however, it's very important to save, save & save. Eventually you'll get there. Hope this helps.